The business owner at tax year end

1. The main rate of corporation tax for period sending after April 2023 is:

a) 19%

b) 20%

c) 25%

d) 26.5%

2. A company using historic cost accounting accounts for investment bond gains:

a) by taxing the growth on an annual basis

b) by taxing the gain when a withdrawal is made

c) by taxing the annual growth and when the bond ends

d) by ignoring any withdrawals up to 5% of the original premium

3. Employer pension contributions attract:

a) Income Tax Relief

b) Capital Gains Tax Relief

c) Corporation Tax Relief

d) IHT Relief

4. Bob has received £2,000 of dividends. How much tax do they cause?

a) £0

b) £675

c) £ 175

d) It depends on his wider income and family circumstances